From our private database of 13,300+ case briefs...
Frandsen v. Jensen-Sundquist Agency, Inc.
United States Court of Appeals for the Seventh Circuit
802 F.2d 941 (7th Cir. 1986)
Jensen-Sundquist Agency, Inc. (Jensen-Sundquist) (defendant) was a holding company whose principal asset was the First Bank of Grantsburg (First Bank). Members of Walter Jensen’s family (majority bloc) owned 52 percent of Jensen-Sundquist and Dennis Frandsen (plaintiff) owned eight percent. The parties entered into a stockholder agreement that provided that if the majority bloc offered to sell its shares to anyone, it must first give Frandsen a right to buy the shares at the same price. The majority bloc entered into negotiations with the First Wisconsin Corporation (First Wisconsin) for the sale of the First Bank. They reached an agreement to merge the First Bank into First Wisconsin and the majority bloc asked Frandsen to sign a waiver of any right he “may have” in regards to the transaction. Frandsen refused to sign and purported to invoke his right of first refusal, offering to buy the majority bloc’s shares in Jensen-Sundquist. The majority bloc refused to sell its shares to Frandsen and went ahead with the merger. Frandsen brought suit, alleging a breach of the stockholder agreement. The district court granted summary judgment to Jensen-Sundquist. Frandsen appealed.
Rule of Law
Holding and Reasoning (Posner, J.)
What to do next…
Unlock this case brief with a free (no-commitment) trial membership of Quimbee.
You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 97,000 law students since 2011. Some law schools—such as Yale, Vanderbilt, Berkeley, and the University of Illinois—even subscribe directly to Quimbee for all their law students. Read our student testimonials.
Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.
Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students. Read more about Quimbee.
Here's why 136,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 13,300 briefs, keyed to 182 casebooks. Top-notch customer support.
- The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
- Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
- Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.